Game On – Squarz Launches in Chicago

By: Business Wire July 20, 2011

Squarz is a first-of-its-kind technology platform, built right here in Chicago, that takes the traditional game of “office squares” and turns it on its head with a not-so-traditional twist. The new site will change the way merchants view retail marketing and the way consumers view sweepstakes and deal sites, for good.

Squarz merges savings, sweepstakes and sports into an opportunity for merchants to drive new customers to retail through compelling offers and valuable prizes. The patented, all-new process and technology allow Squarz to cut through an increasingly cluttered online savings environment with a more robust marketing message than the typical savings and deal sites. Because consumers are engaged at more than just price point (Squarz also offers links to sports and big prizes), Squarz can offer opportunities to merchants that are more profitable in both the short and long term. And unlike other sites, it’s a win for both consumers and merchants.

When Squarz members purchase a deal, they also receive a 1-in-100 chance of winning a grand prize, typically offered by the same merchant. The winner of the prize is determined by a sports event, like in the traditional game of office squares. The patented Squarz Board is unique because the winner of each board is determined by the final score (or other pre-designated statistic), and uses a random generator to determine each square’s corresponding number prior to game start. Each day Squarz showcases a variety of active deals that correspond to upcoming sporting events—there are grand prizes associated with each game.

“Squarz is a new take on retail marketing,” explains Chris Foufas, who founded Squarz. “The business model works to not only engage, incentivize and drive new customers, but can also be used to improve performance of existing customer databases with low click-through rates due to email fatigue. We’re working with local, regional and national merchants to develop win-win programs. Promotions that are profitable for our merchant partners and offer great prizes and create a fun experience that will return customers both to the Squarz site and to the retailer.”

Squarz is another example of the robust technology innovation culture being cultivated right here in Chicago. Lifelong Chicagoan and Squarz CEO Foufas is adding “entrepreneur” to his resume with the launch of Squarz. He has assembled a highly skilled team of professionals from technology, marketing and retail sectors including Squarz’s newly appointed CMO Joe Sciara who has more than 20 years of experience in retail and sports marketing on a variety of national consumer brands.

Squarz has been in development for 18 months and is nearing the end of Beta testing, working primarily with Abt Electronics as a testing partner. Squarz is currently available only in Chicago with plans to expand to other major markets nationally over the next year. For more information, visit www.squarz.com.

About Squarz

Squarz is a fun, new and totally different way to save, play and win. Squarz couldn’t be easier to play – simply choose a Squarz Board, pick a square and purchase the deal to enter. Then watch the Squarz board fill up with friends and fans, each with a 1-in-100 chance of winning more than they bargained for. For everyone who doesn’t win? They still receive a reward of their own: the savings purchased upon entry. A game you can win, yet will never lose? Some might call it impossible. We call it Squarz. No purchase necessary. Visit www.squarz.com for complete rules.

Squarz was founded in 2010 and is a privately held company headquartered in Chicago, IL.